TRADED IN - NOT SOLD - White 996.1 Auto / 102,000kms / CAB / IMS Solution / TIP $55K

[bignoisebang]

Priced at current market level 

$17K new Roof - Autohaus Hamilton Invoice Available ( Nov 22 )

$12k IMS (oil fed)  + Autohaus Hamilton RMS - AOS plus other preventative ( May 23 )

New SP2 Tyres

New Brembo Disks / Pads

New Topgear Exchaust

https://www.carsales.com.au/cars/details/1998-porsche-911-carrera-996-auto/SSE-AD-14736837/?Cr=0 

[bignoisebang]

Traded it in, didn't receive any offers. Ended up purchasing the wrong specification and suffered significant losses. The market is flooded with so many 996 models, causing their value to plummet rapidly. If you're thinking of selling, now is the time before they regress to their value from five years ago (around $30-35k). My intention wasn't to profit from it, but I hoped the money I invested would make it a more secure purchase. However, the reality is that Porsche experts charge exorbitant prices out of necessity and demand. These inflated cost discourages potential buyers unless they have the skills to perform maintenance themselves. Ultimately, even though I got my car to a near perfect condition, I still hesitated to drive it, fearing another costly $5k repair bill. It's possible the garage was aware of this, as they never offered proactive advice and maybe got too excited about potential future issues - a number of ex-996 owners seem to agree with my opinion ( hypothesis ) . In my view, it simply isn't a worthwhile endeavour if you don't have $ to throw at a flawed engine. I still admire the car's stunning appearance, drive and wish the best of luck to all owners!

[Peter John]

A friend of mine tells me the story almost every time I see him (exaggeration) of when he went to buy a 993Turbo and was convinced to buy a brand new 996 Tip Cab. You can see where the crystal ball took that one. 

Sadly, the 996 Tip Cab is the entry level 911 it seems (based on the market). Your repair bills noted would have hurt but sadly at 55k you’re right that’s high for one of these and frankly there isn’t buyers (that I know of). 

Glad that you’re out of it- I’m sure you are too. Let’s not forget Porsche seems to be the lucky brand where you can often get your money back years later or if lucky make some many years later. Not so with a lot of other brands to which you could compare this entry level 911 to.

[bignoisebang]

17 minutes ago, Peter John said:

A friend of mine tells me the story almost every time I see him (exaggeration) of when he went to buy a 993Turbo and was convinced to buy a brand new 996 Tip Cab. You can see where the crystal ball took that one. 

Sadly, the 996 Tip Cab is the entry level 911 it seems (based on the market). Your repair bills noted would have hurt but sadly at 55k you’re right that’s high for one of these and frankly there isn’t buyers (that I know of). 

Glad that you’re out of it- I’m sure you are too. Let’s not forget Porsche seems to be the lucky brand where you can often get your money back years later or if lucky make some many years later. Not so with a lot of other brands to which you could compare this entry level 911 to.

To true. The market price is $35-$40K. $40k if you have spent $20k on it  I hope others get the message and can avoid the mistakes i made. 

[JLD]

https://www.carsales.com.au/cars/details/porsche-911-1998/oag-ad-22352873/?utm_campaign=search-alert&utm_source=sfmc&utm_medium=email&csn_atid=7d393ac6-5371-4539-83c7-7bb1bbd567c3

Up already

[jakroo]

11 hours ago, bignoisebang said:

...Ultimately, even though I got my car to a near perfect condition, I still hesitated to drive it, fearing another costly $5k repair bill. .....

That right there is the crux of the issue. Even though you'd spent that much, made it like new and fixed the underlying mechanical concerns, you were still very hesitant to drive it. 

But also, for a moment, imagine the potential new owner's thoughts after you'd expressed this sentiment to them as part of the sale discussions....or if they were to read this thread....

The mechanical issues the 996 has can be pretty well sorted if you spend the money in time, and not after its gone bang. And you did that.

I don't think the pricing changes are due to the engine issues of this model but more so due to the market coming back to where it was a few years ago before it went nuts with COVID (like many, many things and not just Porsche cars)

It's a shame you got burnt by the cost but you're in good company, there will be plenty of Land Cruiser, Commodore, Ranger, Beetle and so on owners thinking along the same lines when they go to sell.

 

[JWM]

1 hour ago, jakroo said:

I don't think the pricing changes are due to the engine issues of this model but more so due to the market coming back to where it was a few years ago before it went nuts with COVID (like many, many things and not just Porsche cars)

It’s not totally unrelated though is it? When the prices are on the rise, potential buyers will wave away “possible” maintenance costs … but if they’re sinking, more people will be hesitant forming out on what’s just another old car … A bit of a vicious cycle until something magical happens to make everyone go gaga over the 996, like the 964.  Ironically I guess the thing that might make it happen is if enough are deemed economic right offs that they become rare!

[LeeM]

 The market has flattened a bit, yet it's still up there with a lot of optimistic prices compared to 'pre covid'.

 If you have a vehicle or product that people want, it'll sell when they just jump with their heart and not their heads, as that's probably 95% of Porsche sports car purchases. If you're asking too much you can also be sitting on it for a while...like quite a few cars that have been for sale for 6 months or more.

 Sadly for the sellers, a cab isn't that desirable over a coupe and prices reflect that, yet I think it's more to do with the uncertainty with the cost of living etc which is stopping people from buying what is essentially a weekend toy. 

 

 

[JLD]

3 hours ago, LeeM said:

 The market has flattened a bit, yet it's still up there with a lot of optimistic prices compared to 'pre covid'.

 If you have a vehicle or product that people want, it'll sell when they just jump with their heart and not their heads, as that's probably 95% of Porsche sports car purchases. If you're asking too much you can also be sitting on it for a while...like quite a few cars that have been for sale for 6 months or more.

 Sadly for the sellers, a cab isn't that desirable over a coupe and prices reflect that, yet I think it's more to do with the uncertainty with the cost of living etc which is stopping people from buying what is essentially a weekend toy. 

 

 

There's a 996.2 cab I enquired on 3 years ago when it was at $39,995. It was first advertised in 2017(!) for $37,800. It's still on the market at $69,990 and has had 17 price changes. It shows that asking too much doesn't sell a car!

[TwoHeadsTas]

8 hours ago, LeeM said:

 Sadly for the sellers, a cab isn't that desirable over a coupe and prices reflect that,

Still makes me think back to when I was buying my first 911 (I ended up with a 996.2 Tip), Scott at Autohaus made the comment that even though Cab and Targa and Tip models sold at a premium when they were new, it is manual coupes that attract the highest prices now.  He said that 5 years ago, and I'd say it still holds true now....

[luzzo]

5 hours ago, TwoHeadsTas said:

Still makes me think back to when I was buying my first 911 (I ended up with a 996.2 Tip), Scott at Autohaus made the comment that even though Cab and Targa and Tip models sold at a premium when they were new, it is manual coupes that attract the highest prices now.  He said that 5 years ago, and I'd say it still holds true now....

That was true 25 (+) years ago and still is..! 

[Boosh]

On 22/08/2023 at 10:26, bignoisebang said:

 In my view, it simply isn't a worthwhile endeavour if you don't have $ to throw at a flawed engine...

I don't agree with this statement. I have had two 996s and still have one now (although it is a mezger) and between the two cars I think I have spent about $1500 in the last 5 years on repairs. Not including normal servicing. That's doing all the work myself. Only engine issue has been a starter motor.

These cars are built well. I personally don't buy into the IMS scare mongering.

[MFX]

The engine issues are definitely overblown and really the IMS is mostly just an issue with the post 2000 cars with the little single row bearing. I know of so many of the early engines that have been flogged and flogged and will not die. Tip cab's, although the most expensive model when new, are the least desirable in the second hand market, where the 'cheap' manual coupe's are the most desirable and the prices reflect that.

The fact is that the peak of the market was probably 18 months ago. As I have heard here before, when the market is going backwards, sellers take the stairs down while the buyers take the lift. 

[09ELF]

Cars rarely go up unless it's something very special. Any modifications or repairs you make, you will rarely getting your money back. 

Alot of people jumped onto the covid train and thought cars were an investment and will simply get burnt.

Porsche classic had a good run with magnus and then covid lol... But are still great cars.

Alot of Porsches are great cars, but not special enough to be sitting above their precovid prices (excluding rare and special cars). 

 

 

[JLD]

As just another avid watcher at the moment, I see the same cars go up and down in price and simply not sell. I'm guessing they're hoping for that one person to call and buy. But I really think the covid tax is finished, and overpriced cars will not sell. Will we see G Series under $50k again? probably not. But they'll start creeping under $100k again.

996 cabs will need to be at $40k for a really good one and sub $40k for a normal one to sell. There are a few Tips in the 40s that have been sitting for quite some time, and the ones in the 50s are the ones that keep going up and down in price yet don't sell. And sellers of these either are in denial or are completely delusional about 'what they've got'.

Properly priced cars sell, overpriced cars sit. These aren't investments, they're a depreciating asset. As I said, I'm an avid watcher at the moment as I, and anyone with half a brain, can see where the market is headed 

[911]

Interest rates go down, market goes up. Interest rates go up, here we are. 

I think 55k was unrealistic. I'm guessing you probably traded it for alot less. Why not slap a couple of grand, if not more on top of trade price and try sell it at that price, instead of listing it for 55k and then not selling it and trading it. A bit silly really. 

You've done all the work too. 

[LeeM]

 @JLD has nailed it

[JWM]

1 hour ago, JLD said:

Properly priced cars sell, overpriced cars sit. These aren't investments, they're a depreciating asset. As I said, I'm an avid watcher at the moment as I, and anyone with half a brain, can see where the market is headed 

Bang on. I made a genuine offer on a 997 a couple weeks ago and was simply told “way off” … Fair enough, I guess one of us is, maybe after another six months languishing on Carsales we’ll find out who 😂

[JLD]

2 hours ago, JWM said:

Bang on. I made a genuine offer on a 997 a couple weeks ago and was simply told “way off” … Fair enough, I guess one of us is, maybe after another six months languishing on Carsales we’ll find out who 😂

All of the 997s on Carsales have been on for a long time. Some have even dropped their price but still sitting. The early tip cabs in the $90k range will never sell!

[Sepand]

The issue in this instance was that the car was the least desirable model in the least desirable spec. An auto cabriolet 996 in a not so common color was always going to be at the bottom of the market. Even if you invested 100k into it , it would still be worth very little compared to some cars people actually want. It’s the harsh reality unfortunately